UAE's business sentiments show 'marked improvement' in Feb on rising customer demand | Markets – Gulf News
Business conditions in the UAE recorded a ‘marked improvement’ during February, with the private sector recording gains in demand. There was also increased optimism about future sales as UAE entities oversaw the challenges posed by the Omicron virus.
The upsurge was widely linked to rising client demand, with businesses also pointing to growth in tourism as the Expo 2020 continued and countries loosened their travel measures,” said David Owen, Economist at IHS Markit, the consultancy that tracks monthly PMI (Purchasing Managers Index) numbers as a gauge for private sector activity in a country
The sentiments were largely drawn before the onset of the Russia-Ukraine conflict on February 24. Even otherwise, UAE business say that global shipment delays are proving a bother as are rising material prices.
"Local vendors were able to deliver available inputs more quickly, and there are signs that supply problems are slowly easing as the world emerges from COVID-19 restrictions," said Owen. "This should aid businesses in relation to both capacity and cost pressures in the coming months."
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